Massachusetts residents can benefit from a wide range of incentives in the form of tax credits, state rebates and performance-based credits. These incentives can reduce the overall cost of a residential solar system by 30% to 50%. Boston Solar can help you identify incentives that apply to your specific circumstances. For more information on any of these incentives, click the appropriate title for more details.
- 30% of the cost (net of Commonwealth Solar II Rebates) with no upper limit.
- Expires December 31st 2016.
- Existing homes and new construction qualify. Must be principal or secondary residence.
- $2000 or $4000 for residential property.
- Varies $0.40 (base up to $2000) to $0.85/watt (varies by rebate adders).
- 1 KW (minimum) up to 10 KW photovoltaic systems.
- 15% personal tax credit.
- Up to $1000 against state income tax for Net Expenditure on a renewable energy system (including installation costs).
- Excess credit may be carried forward for up to 3 years.
- 100% exemption on value added by solar system for 20 years.
- Solar energy systems used as primary or auxiliary allow taxable property to be exempt from local property tax for a 20 year period.
- Income from the sale of your Solar Renewable Energy Certificates (SRECs)
- 1 SREC for each KW produced
- Minimum $200 per KW produced during first 10 years
- Aplies to solar systems connected to the grid via the major utilities
- Customers are compensated for any excess electricity generated by their solar system
- Some utilities give full credit for excess energy at retail prices